How to do a market study
If you are a small business owner and want to open a new business in your city, or are a company manager and want to open a branch, knowing the tastes and preferences of the population of the physical place where you want to start a new business can be crucial. That's why in .com we tell you step by step how a market study is carried out.Steps to follow:
The first operation would be to delimit the products or services that will be offered, as well as the target market to which they are directed, that is, to potential customers .
The second step could be to conduct surveys to obtain information about the consumers of the place where they want to sell the products.
Once the results of the surveys have been interpreted, the next step would be to conduct interviews with businessmen from the same sector or the same area, to learn a little more about how the sector works.
In order to make a good report on the results, you can try to obtain more information through other secondary channels, such as the Internet, the City Council, etc.
Once the summary report on the results has been made, the final decisions about the business activity can be made, that is, the final concretion about the products or services that are going to be offered or the objectives and expected growth .